Dollar slides against yen on profit taking

Strong U.S. manufacturing data briefly lifted the greenback and encouraged greater risk appetite, dealers said, before the dollar fell back against the yen in Asia.

The dollar changed hands at 84.25 yen in Tokyo afternoon trade, below its 84.42 yen level in New York late Wednesday.

The euro eased to US$1.2793 from US$1.2807 in New York and to 107.80 yen from 108.14.

Dealers were awaiting a European Central Bank press conference to discuss interest rates Thursday, with analysts expecting it will hold its key rate steady at 1 percent.

Thailand Thursday ordered the central bank to monitor the baht and “prepare measures” after the currency soared to a 29-month high against the U.S. dollar.

The news came after a special meeting called by Premier Abhisit Vejjajiva with top economic officials after the baht hit its highest peak since April 2008.

The unit reached 31.16 baht to US$1 at one point in Wednesday morning trade, having climbed about 5 to 6 percent this year. It was unmoved at 31.17 baht on Thursday.

The dollar fell to 1,180.35 South Korean won from 1,189.45 Wednesday, to SG$1.3485 from SG$1.3537 and to 9,005.50 Indonesian rupiah from 9,017.50.

It also declined to 45.05 Philippine pesos from 45.11.

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